INDIANA: Income Tax: Bonus Depreciation and §179 Deduction Addbacks Explained

Abstract

According to Indiana Tax Dispatch, Vol. VII, No. 4, Indiana Department of Revenue, the entry line on a 2004 Indiana personal income tax return for adjusted gross income that constitutes taxable other income should include the addbacks for the Section 168(k) special depreciation deduction and the portion of the Section 179 first-year depreciation allowance used to expense capital purchases that are in excess of the 2003 limits as recognized for Indiana tax purposes.